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Facebook released its fourth quarter earnings report on Wednesday, the report revealed that as of the end of 2016 Facebook had 1.86 billion active users, up from 1.59 billion users just one year earlier, this is according to a report by CNN.
CFO of Facebook, David Wehner stated that Facebook added more users in this past quarter than in any other quarter before it, since going public in 2012. This has been attributed by Wehner to the free stripped down version of Facebook being offered in emerging countries such as those on the African continent. This stripped down version allows more users to sign up and make use of Facebook at a fraction of the price, if at any price at all.
According to an article in fin24, Facebook’s fourth quarter earnings showed that the company has solidified their position as the no.2 in the market for mobile advertising, only trailing Google.
Facebook’s growth is likely to continue as it caters to one of the basic human needs, the need to connect and feel a part of something. It allows its users to keep connected and up to date with whats going on in the lives of people they know as well as allows them to connect with new people of similar interests.
Facebook’s reach is growing by the day and with the platform transforming to more than simply a social networking site. It has become one the biggest outright media platforms in the world with people relying on Facebook as their main source of news and information.
As Facebook nears the mark of 2 billion active users and with the company looking to further diversify and advance. The sky is truly the limit for this giant of the online media industry.
Staff Writer
